JAKARTA - The Golden State Warriors were sued by FTX account holders, on Monday, November 21, who accused the defending champion of the National Basketball Association (NBA) of cheating of promoting cryptocurrency exchanges that are now bankrupt.
Elliott Lam, a Canadian citizen and Hong Kong resident who said he lost USD 750,000 on his FTX account, filed a class action lawsuit he proposed in San Francisco federal court.
Other defendants, including Sam Bankman-Fried, who founded FTX, and Caroline Ellison, who led Bankman-Fried's Alameda Research trading firm.
Lam alleges the defendants have mistakenly stated that FTX is a "worthy and safe way to invest in crypto," deemed to have deceived consumers into investing there.
The lawsuit seeks unspecified compensation for people outside the United States with FTX proceeds.
The Warriors spokesman did not immediately respond to a request for comment from Reuters on the lawsuit.
The team last December named FTX its official cryptocurrency platform, in what it calls the first-type cryptocurrency partnership in professional sport.
Golden State itself has discontinued promotions related to FTX last week, according to published reports.
Another NBA club, Miami Heat, on November 11 said it would remove FTX's name from its home arena and look for a new sponsor.
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